On Oct 6, 2008, at 6:26 AM, Julio Huato wrote:

I like the punchline: "How come such creative thinking is nowhere to
be seen when it is a crisis in an emerging market that we are talking
about?"

Former PEN-Ler Penny Ciancanelli put it very nicely more than 10 years ago: the First World gets a Minsky bailout; the Third, a Fisher deflation.

Doug
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